How Eagle Wealth is Committed to Community
It's been a long, smoky weekend for those of us on the west coast, with hazardous air quality keeping most of us indoors. We sincerely hope you and your neighbors are safe.
In an already bizarre year, these wildfires reminded us that nothing is certain. Despite the chaos of 2020, we’re grateful to see communities coming together and supporting those in need. While we're the biggest advocates for having a plan, people usually aren’t ready for unprecedented disasters. That's why its's so important for communities to step in when others need us most.
How Eagle Wealth is Helping
Several members of our Eagle community are directly impacted, some losing their homes, others still in varying levels of evacuation. We’re so grateful for their safety, and our thoughts are with them.
With so many people in need, our company is donating to some of the following organizations. If you’re inclined to help, we’ve listed a few ways below.
- Rogue Credit Union - donation matching for wildfire relief efforts.
- Mid-Valley United Way
- United Way of Lane County
- RedCross Northwest Response Fund
- Salvation Army Cascade Division Emergency Disaster Services
- Wildland Firefighter Foundation
Please let us know if we can help you. In the meantime, the Eagle Wealth crew will be praying for rain and wishing you the best.
Take care,
Your Eagle Wealth Team
***If you're looking for a tax efficient way to help the victims and you're already taking Required Minimum Distributions (RMD), you can redirect the RMD as a qualified charitable distribution. This means you won't pay taxes on the distribution. If you’d like to discuss this option further, please give us a call.
The Week on Wall Street
Stocks traveled a volatile path last week as investors appeared concerned about the upcoming elections, an uncertain economy, and more delays with additional fiscal stimulus.
The Dow Jones Industrial Average slid 1.66%, while the Standard & Poor’s 500 slumped 2.51%. The Nasdaq Composite index plummeted 4.06% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, rose 1.44%.[i],[ii],[iii]
Stocks Continue To Slip
In a holiday-shortened week of trading, stocks resumed their slide from the prior week, with the technology-heavy Nasdaq slipping into correction territory in a three-day span ended on Tuesday, September 8th. (A correction is defined as a decline of at least 10% from a recent high.)[iv]
After staging a strong rebound on Wednesday, stocks once again headed lower as the Senate failed to pass another coronavirus stimulus bill. Mega-cap technology companies remained under pressure throughout the week. Energy stocks added to investors woes, plunging on data showing an unexpected build-up in inventories.[v]
The market ended the week on a mixed note, as technology companies lost additional ground.
Final Thought
On Friday the nation commemorated the tragic events of September 11, 2001.
We join all Americans in remembering the lives we lost that day and the profound impact on the victims’ families. We are reminded that it was the unity, kindness, and warmth that we collectively rediscovered in the wake of 9/11 that saw us through that difficult period.
THIS WEEK: KEY ECONOMIC DATA
Tuesday: Industrial Production.
Wednesday: Federal Open Market Committee (FOMC) Announcement.
Thursday: Jobless Claims. Housing Starts
Friday: Leading Economic Indicators.
Source: Econoday, September 11, 2020
The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.
THIS WEEK: COMPANIES REPORTING EARNINGS
Tuesday: Adobe Systems (ADBE), Lennar Corporation (LEN), Fedex (FDX)
Source: Zacks, September 11, 2020
Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.
